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Earnings Decline at BAE Systems
Amid Year-Earlier Gain

LONDON -- BAE Systems PLC Thursday reported a 45% decline in net profit after the previous year's results were boosted by a gain from the sale of its Airbus stake.

Net profit slumped to &pound;901 million ($1.76 billion) from &pound;1.64 billion. The 2006 figure included a &pound;925 million gain from the sale of BAE's 20% holding in Airbus to European Aeronautic Defence & Space Co. NV.